News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1887-11-10
HOW TO GET RICH.
A FEW HINTS UPON AN INTER-
ESTING SUBJECT.
How to Invest Money and Make 1t
Turn Itself Over.

/
, Turn Itself Over
In answer to a request of the Boston
Herald to write some practical hints for
young men on the requirement of
wealth, Gen. Benz. L. Butler responds
as follows:
A difficult task is set me, as circum-
stances under which young men com
mence life are so widely varied. But I
think that more young men fail in the
investment of what they earn or receive
than IN any other way to acquire prop
erty. The temptations to speculate are
so great, and the desire to become sud
denly rich so strong, that believe eight
out OF ten, If not more, of young men
are wrecked at the very beginning.
Ii young man is earning something
more than the expense of his living, and
has no object in view, he is likely either
to increase those expenses carelessly or
to loan his money to his friends, and in
so doing in the majority of cases he will
lose both friends and money. SO that
the best thing that he can do is to have
an object, gather up his money, and to
have a call for it which shall be profit
able one. He makes no investment be-
cause, he says, 81 have got so little
money that it won't come to anything.
l will wait until I get more;" and in
waiting, generally, what he has goes.
When young man has a very little
money, let him buy some property, pref
erably piece, however small, according
to his means, of improved real estate
that is paying rent He had better buy
it when sold at auction, under a judicial
sale, paying i'll cash what he can, giving
his notes for the balance in small sums
coming due at frequent recurring inter-
walls, secured by mortgage on the
property, and then use all his extra in
come in paying up those notes. 1t is
always safe to discount your own note,
and If the notes come a little too fast |
as soon rs he gets anything paid his |
friends will aid him when he is putting |
his money where it cannot be lost, and |
where the property is taking care of the |
interest, and in very short time he
will find that he has got very consid-
erable Investment. He will become in
terested in it, save his money to meet
his notes, and he will directly come into
a considerable possession of property,
and hardly know how it came to him. /
That is, he will have had a motive for
saving, and will get the result of that
saving, and will not be tempted to enter
into speculations. Nothing is so safe
for an Investment as improved real es-
tate. Nothing is likely to grow in value
faster. In the last fifty years 90 per
cent. OF all the merchants and traders
in Boston have failed. In the last fifty
years 80 per cent. of all the business
corporations have failed or gone out of
business, SO that their stock has been
wiped out. In the last fifty years all
the improved real estate on the average
has paid its in crest and taxes and quad
rupled III value. If n young mans
father can give him anything to start
him in the world, he had better invest s
t in that way and let it accumulate aud G
,ar,n his. living. and la yUill I4a r.iol. .@r E
than if he had gone into business. Jay t
Gould is said to have started from II t
mouse trap seller to become n million /
aire Assuming that 10 be true, he is '
only one of $4,000, 900 of people; and {
if any young man thinks he is going to {
initiate Jay Gould, there are 60,O0O,O0O
chances to one that he won't succeed.
The rule Iwould lay down for a young
man is, never do a mean thing for
money. Be prudent and saving of your
money. Be careful to have no interest
account running against You, unless you
have an equal or greater interest account
running in your favor Work diligent-
", and you are sure of competency in
your old age; and as early as possible,
if you can, find a saving, prudent girl
who has been brought up by mother
who knows how to take care of O house,
and make q wife of her. She will aid,
and not hinder you.
I claim no originality in this advice,
and will relate you an incident in my
own experience to illustrate it: In my
earliest practice in my profession was
quite successful in earning money, and
| had small balance in the Lowell
Bank, at the head of which was Mr..
james G.. Carney. The bank was di-
rectly across the hall from my office. [
stepped into the bank to deposit a little
money on one occasion, and Mr.. Carney
said to me: "Why don't you invest
your money! 'Invest," said 1; ''I
have nothing to invest" ooh, yes, he
says; styou have quite a little sum of
money, and [ see that your young
friends come with your checks OCCASION
ally, evidently borrowing it. Now you
had better invest it." 'How can
1 invest it?" 'Invest it in
real estate 81 know nothing
about real estate" $50 to the
first auction and buy the property. You
cannot be much cheated in that, be-
cause you will have to give very little
more than somebody else will be willing
to pay for it. Give your notes for it,
save your money, collect your fees, pay
your notes as they become due. See
that the property is improved property,
so that the rent will keep down your in
terest account, and when you get any
other money, invest it in the same way,
and if your notes press upon you little
faster than you can pay them, why we
will, when we find that is what you are
doing with your money, discount your
note and give you little more time, so
that you can pay it up. This will neces-
state the prompt collection of your
bills, for know that you would rather
work and earn a hundred dollars than
dun man for it, unless you have
pressing need for it. You have not
yet asked for little bill that we owe
you on the bank, which shows me that
you do not promptly collect your dues. "